Buffet comments on newspapers Yahoo broadcast the entire q&a for Berkshire yesterday. Was interesting to hear buffets comments on newspapers. A big bull he purchased close to 30 local papers in 2013 to see some of them drop in revenue 50 percent even though they are the only newspaper in town. Didn’t sound like he had any great ideas here. Lesson learned for me is I took this as bullish sign to invest more significantly in torstar at that time. Proves that even the richest make mistakes. Both Charlie Munger and Buffet love papers and read them every day but they acknowledge their investment thesis here was wrong. Buffet is much richer than Watsa but looks like identical error is playing out here with Torstar. I suspect Watsa probably likes reading his newspaper also and probably delivered them like Buffet did when he was a teen. The world continues to evolve and one needs to move on.